Home > Lessons from the trading floor > Day trading for a living

Day trading for a living

Stock trading for a living takes discipline. There it is, I said the dirty word most day traders don’t want to hear. It is similar to the guy in Harry Potter, “he who cannot be named.”

I bring this up because yesterday the market pretty much did nothing for the entire day, yet we had traders on the floor who were trading as if volatility was rampant. Part of making consistent money as a stock trader is knowing how to not lose money. We had a meeting during lunch yesterday to slow the traders down who were wasting money because they had to justify coming to work today.

As a professional trader, you do not get paid by the hour, you get paid by the month. If it is busy, use more leverage and trade more actively, if it is not, keep your bullets in your gun and wait patiently for the next trade.


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